This was posted 2 years 11 months 22 days ago, and might be an out-dated deal.

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$0 Brokage Fees on ASX Trades (HIN) until 1 Jan 2022, Then $3 Per Trade Afterwards @ Stake

2000
$0 Brokage Fees on ASX Trades (HIN) until 1 Jan 2022, Then $3 Per Trade Afterwards @ Stake
Go to Deal
Froot Loops on 30/11/2021 - 20:55 hellostake.com (1818 clicks)
Last edited 07/12/2021 - 19:28 by 1 other user

Credit to 1337 for pointing out Self Wealth seem to be matching stakes $0 trade until 04-01-2022, Credit to Raif pointing out ETFs only

Seems Stake has decided to give the $0 per trade to all users until 01 Jan 2022 ($3 per trade afterwards) on the ASX (Still $0 for US trades). This finally represents some decent competition for those in the ASX game (compared to CommBank etc). Use the referral links below to gain yourself a free US share (likely Gopro, but you might get lucky and get Nike).

Minimal starting stake is A$500 (as the stake is Chess-Sponsored / HIN)

Link/Information on (expanded from thread):
Pricing
Deposits
Stake Wallet for ASX
Transfers to stake
Share Certificate
CHESS-sponsored investing & HIN - Stake
CHESS Information - ASX
Salan Private Wealth Australian Division aka stake's owners
Canstar explaining the initial $500 ASX requirement for HIN
2.4/5.0 Stake on Product Review, lol

Nice comparison of different brokers such as: SelfWealth, Pearler, Superhero, Think, Open. Stake is not mentioned as it's only been a product on the ASX for all for a day

Referral Links

Referral: random (1013)

Referrer gets $1 off brokerage for 12 months for each referral. Referees gets $10 bonus (funding account within 24 hours of sign-up required).

Financial Brokerage Share Trading

Related Stores

Stake
Stake

closed Comments

  • Deepwhale on 30/11/2021 - 22:18
    +2

    I wonder for infrastructure-wise stability, how would Stake handle the orders during the panic-sell situation? I heard during March 2020 when there was a panic day, many brokers systems were crashed and went offline for a few hours. How is the responsiveness in general for their customer service team?

    • Froot Loops on 30/11/2021 - 22:24
      +3

      In my experience they have been pretty good with Wall St. I've only had 1 day where loading was an issue (GME meme days) in the last year. Apart from that SEC halts seem to confuse many with it being a service issue vs SEC. I have also emailed support once, regarding changing my portfolio from Australian private to a UK company to avoid paying tax although they don't support UK company, they gave me great advice on transferring to stake UK to avoid tax. I believe 5 or 6 emails over 2 business days (I was the slow one), resolved my issues. Apart from that I have never needed to contact them for anything else

      • congo on 30/11/2021 - 22:28

        How is the foreign exchange fee when transferring money to US account?
        What are the hours like for trading US shares?

        • Froot Loops on 30/11/2021 - 22:44

          Personally, I found the rate (AUD->USD) to be pretty shite. Revolut solved this issue for me (transfer from AUD->USD and then deposited into stake in USD) and gave me a near market rate (minus stakes direct USD fee (like US$10)). I'm sure there is something better than Revolut out there (they have a fair use policy and then charge a fee on free accounts to transfer), and I am hoping other users can suggest this. I know a few friends have paid the Revolut monthly fee (removes fair use cap) for large transfers and have saved a decent amount for a large sum compared to traditional methods (aka banks).

          • congo on 01/12/2021 - 00:27
            +1

            @Froot Loops: I used transferwise in the past, their rates were ok.

            • Froot Loops on 01/12/2021 - 16:02

              @congo: Cheers. I might check them out as I am still trying to move cash to the UK. Interest rates on saving seem to be better there for the first time ever (compared to here)

          • godzilla123 on 01/12/2021 - 08:24

            @Froot Loops: Which revolut plan did they upgrade to? Premium $10.99/month or Metal $24.99/month?

      • Deepwhale on 30/11/2021 - 22:33
        +1

        Great to know. Thank you!

        • Froot Loops on 30/11/2021 - 22:52

          You're welcome. I wouldn't recommend stake if they were junk. I get nothing out of this apart from possible helping some members of the community. I just looked stake up for the first time on Product Review's and I believe this gives better insight. Seem's to be either a really good review or a poor review. I'm guess cut the "outlier's" out and come to your own decision. I'd also mention almost all of thesew reviews will be Wall Street based and not ASX. People tend to not understand what an SEC halt is, and like Robinhood (they might have done more than SEC), got a bad wrap over meme stock
          "

          • congo on 01/12/2021 - 00:29
            +1

            @Froot Loops: What are the current meme stock today?
            How is GME still trading at $200 ???

            • Froot Loops on 01/12/2021 - 00:58

              @congo: Not sure mate. GME, AMC, NOK, BB. I tend not to follow them. I still smile when I see GME being held up by Wall Street Bets. The company value is 95% meme, which secretly makes me laugh/happy when I see it.

  • congo on 30/11/2021 - 22:27
    +5

    Been using the beta. Platform seem very basic.
    It needs-
    Market depth
    Historical orders
    Live real time quotes
    Some research?

    • Froot Loops on 30/11/2021 - 22:39

      The platform is based on their Wall Street Platform (been going for years, based on other Salan platforms) and my only criticism on the ASX beta was the lack depth of the analysis. I personally prefer my market cap from Yahoo, Zacks etc over the information provided by stake black. If you have common sense / basic research skills and aren't viewing the market as a pokie machine, then the 90% will be fine. I am extremely interested to what future coverage black member will get on the ASX, but I have seen the improved during Beta and I have the patients to wait.

    • vis on 30/11/2021 - 23:27
      +1

      Market depth costs them money, not having market depth means they can provide cheaper brokerage than others. You can get the market depth, research for free using other apps.

      • congo on 01/12/2021 - 00:25

        Yes, I am using commsec in parallel with Stake.
        Just means I have to type the quotes in 2 platforms, no biggie but would have been good if it was all available in Stake.

      • Froot Loops on 01/12/2021 - 01:00

        Sure, it costs them money, which is why myself and others pay for stake black. $90 a year is great value

        • vis on 01/12/2021 - 05:44

          I think the way they set up the platform is good, they removed all the things which costs them extra money like market depth, live watchlists etc and built bare-bones platform where you can buy and sell the securities so that they can pass on the savings to the end user and win the market for themselves like Robin hood. After Robin hood became successful all the big players had to come down to price match with them, so ASX needs this to bring the competition. Mass exodus to stake will bring the competition.

    • Ghost47 on 01/12/2021 - 12:58

      Stake Black (which if you’re lucky enough to have signed up to Stake early to get it free for life) offers some of that information like analyst ratings and company financials.

      But yes, the platform is relatively simple. Their charts are a joke and only go back 3 years lmfao. Pathetic. I use Yahoo Finance if I want more information.

      • Froot Loops on 01/12/2021 - 15:38

        Wish I got it for free. The sources aren't the best, but you see enough to get an idea if its for you. I think like most, this triggers me then to do my own research outside stake. The not having to wait for your $$$ to clear and being able to spend it instantly, is where the value comes into it for people doing shorter duration trades

  • arctan on 30/11/2021 - 22:42
    +2

    Anyone is having issue to sign up Stake?

    • Froot Loops on 30/11/2021 - 22:56

      Website seem's fine (I'm already a member), but they maybe getting hammered as the entire ASX thing (It's a big deal for the market). Try InPrivate or clear your cache friend.

    • skid on 30/11/2021 - 23:33

      Yes, javascript error. You on firefox?

    • bitcoinorbust on 30/11/2021 - 23:46
      +1

      yes but disabled adblock now it's working maybe coincidence maybe not

  • udyz on 30/11/2021 - 22:57
    -1

    And there is Marketech too..

    © 2021 Marketech Online Trading Pty Ltd
    ACN 654 674 432Corporate Authorised Representative No 1293528
    Authorised Representative of Sanlam Private Wealth Pty Ltd (AFSL 337 927)

    • netjock on 30/11/2021 - 23:06

      Doesn't Superhero use Sanlam also?

      • Froot Loops on 01/12/2021 - 16:35
        -1

        Nope and superhero isn't CHESS-sponsored, hence the low rates. If superhero went under the shares are not in your name, so this could be a nightmare.

        • netjock on 01/12/2021 - 20:18

          Could you stop the misinformation.

          Using Sanlam is not talking about CHESS sponsorship.

          It is about infrastructure that is being used.

          Superhero uses Sanlam as custodian and yes it isn't CHESS sponsored, everyone's shares should be under one central CHESS which could create issues if Sanlam goes under (notice what I said there). Or Superhero conducts fraud (take your money, not buy the shares therefore won't end up in the central CHESS account) Or Sanlam conducts fraud and sells the shares without authorisation.

          Fiduciary duty responsibilities (since you are paying a fee for service) is they are looking out for your interest, regulation would dictate every half year the balance sheet is audited. It isn't like someone at Sanlam accidentally left your share certificates in their jeans and put them through the wash, collapses are usually from planned fraudulent behaviour.

          It seems like you've got an opinion on every comment. I am going to leave it here.

    • Froot Loops on 01/12/2021 - 00:15

      Sanlam has spread it's seed far and wide. I believe they are yet to hit Africa, but I know they have multiple "brands" in the states and Europe. It's just a multitude of companies that sit on DriveWealth

  • blighst on 30/11/2021 - 23:11
    +7

    There's a fair bit of misinformation floating around in this thread - likely from memestock enthusiasts who got hit by Stake not allowing trades on GME earlier this year.

    Stake does not actually place the trades on market for you, what they'll do is use a company who has direct market access and do this.

    For US, Stake uses Drivewealth (a popular 'investing as a service') platform provider who power a number of companies looking for easy US market access (like Revolut, Sharesies, among others). During the memestock boom, Drivewealth decided to limit orders (like a number of US firms), as the clearinghouses were demanding large amounts of capital for the increased risk. As a result Stake were unable to offer purchases on these stocks.

    For Australia, Stake uses FinClear - a similar fintech backed by Magellan (among others). This is completely independent to the US side of things. In a similar manner, Selfwealth (another popular broker) uses Openmarkets, as do Pearler, Markitech etc. These providers may also suffer degraded performance during high volatility, however have never completely shut off orders (in part because the Australian clearing system works differently to the US one).

    tldr; Stake, and many retail brokers don't actually directly submit orders to the market. This means they're at the mercy of whoever does - which is why they had to halt trading on GME earlier this year. Any direct platform issues (slow/UI/UX) is more likely Stake's problem. Stake uses a completely different market participant in Australia for ASX trading and our market works differently to US, so should be fine as long as you can handle less data.

    • blighst on 30/11/2021 - 23:13
      +1

      And Sanlam Wealth, who's name is floating around in this thread is nothing more than the AFSL who Stake has a CAR agreement with to operate under. To offer any financial advice or product companies require an AFSL and for startups, it is often cheaper to operate as a rep under an existing one than get a new one. There's no affiliation beyond that AFAIK

    • debaron541 on 30/11/2021 - 23:30
      +1

      It’s nothing to do with trading halts, everyone understands that. It’s the app/platform availability and stability that causes issues and losses. Freezing up when making trades, being unable to login, random maintenance in which you can’t even access your account.

      • blighst on 30/11/2021 - 23:33
        +3

        Reading through the comments, it's not apparent that everyone does…

        But yes you're entirely accurate in your assessment that instability is likely Stake's fault (I cannot say I've experienced that, although don't do any active trading with Stake)

      • Froot Loops on 01/12/2021 - 00:00

        In my experience, every time I have been unable to trade, there was an SEC halt on that company. I'm more than 12 months in and the platform has only screwed up once for a few hours. I thank you for sharing your experience, but I suggest possibly considering personal IT issues / Provider issues. I am in many stake groups and there is little feedback like this nowadays.

  • SaberX on 01/12/2021 - 00:22

    Just curious on the US side of things as having an Aus HIN but ability to switch to US holdings would be useful:: How does Stake compare to an alternative like Superhero?

    When you add up the FX fees for transferring to or from Aud to USD and so forth, and any costs to purchase shares how does Stake compare? Are there any other low cost US providers with flat structure fees to recommend apart from the likes of Superhero, Stake? Or is that about it without going into the traditional routes i.e. commsec and your IG markets/larger players who charge much more exorbitant total fees?

    • vis on 01/12/2021 - 05:49

      Etoro for US looks cheaper

    • Froot Loops on 01/12/2021 - 16:36

      Superhero isn't CHESS-sponsored, so you don't own the stock, the broker does. Something to consider if superhero were to go under

      • netjock on 01/12/2021 - 20:20
        -1

        Custodians hold the stock with you as beneficiary. I'd like your assumption tested with the ATO.

  • whoopdeedoo on 01/12/2021 - 01:00
    +1

    can i transfer my shares from ANZ to stake without any fees?
    hows Stake execution and platform, charting for asx?

    • Froot Loops on 01/12/2021 - 01:03

      From stakes side: Stake Transfers. You may wish to check with your current broker (ANZ) what fees they charge. It might be nothing, but being ANZ, I'm gathering it's something

  • Oauiii on 01/12/2021 - 04:38

    What do you guys think of Spaceship?

    • Slo20 on 01/12/2021 - 06:51
      +2

      Not CHESS sponsored so you don’t directly own the shares. They are more of an micro investing app, similar to commsec pocket. There used to be no fees if your balance was under $5000 now I see they charge $2.5/month for $100 plus. So if you have only $1000 invested you are paying 3% in fees each year.

      Depending which investment option you have chosen the new fees means your worse off unless you have over $40k invested.… slowly eating into your profits. I personally wouldn’t touch them.

      • Ozbargainasaurus on 01/12/2021 - 09:58

        Commsec pocket is chess sponsored

      • Ghost47 on 01/12/2021 - 13:01
        +1

        It’s not really similar to CommSec Pocket. CommSec Pocket let’s you buy ETFs for a $2 brokerage fee per trade.

        Spaceship is a selection of shares managed by the company (sort of like a managed fund) and costs no brokerage to buy units of. If anything it’s closer to Raiz except with individual shares instead of a portfolio of ETFs.

  • Dose Pipe Sutututu on 01/12/2021 - 06:39

    Great deal, I'm using it now for cheeky swing trades. Worth doing those 3% intraday trades, where as with CommSec you'll lose at least $19.95 x 2 (provided you have a CDIA, cost more If you don't) for a full swing trade.

  • crytotosaurus on 01/12/2021 - 06:54

    I just recently signed up with Selfwealth, thinking to move away from OpenTrader. I mostly trade from my mobile and the mobile platform from OpenTrader is really terrible.

    Now that Stake is offering something even better than Selfwealth. I am thinking maybe I should give Stake a chance instead.

    What do you all think about Selfwealth vs Stake? Please share your opinion.

    Cheers.

    • Ghost47 on 01/12/2021 - 13:07

      I’ve been a long time user of SelfWealth (since launch basically) for ASX but Stake at $3 a trade sure are making it enticing to switch completely for ASX. I already use Stake for US shares and was grandfathered onto Stake Black for life as I signed up early.

      SelfWealth have more information on their platform (e.g. better charts, market depth) whereas Stake doesn’t (especially without Stake Black which is only available for US shares). I mean for example you can only see 3 years of a share’s price on Stake, which is pathetic.

      Stake had issues with their clearinghouse during the GME fiasco earlier this year which is concern for them.

      I’ve already bought a few shares using Stake, and will keep my portfolios separated for now. Going to see how sustainable this $3 brokerage fee is. If they don’t get the volume they need to maintain it I can imagine the fee going up or the quality of service decreasing.

  • turbice on 01/12/2021 - 07:02

    For tax i like to link SelfWealth with sharesight. Any idea how to do this with stake? Or if its possible ?

    • kendo on 01/12/2021 - 07:07
      +1

      Stake is fully supported in sharesight, you can sync your stake account into sharesight easily. Just log in to your sharesight and follow instruction to add stake porfolio

      • turbice on 01/12/2021 - 08:07

        Got a link ?
        Sorry
        I can only find the link the file that stake stake sent from email

        Update
        I think it’s from import from a broker.

        • blighst on 01/12/2021 - 18:15
          +1

          You just need to forward your stake share confirmations through to your sharesight email

          • turbice on 01/12/2021 - 23:03

            @blighst: Thank you,

            Ill try this. I guess it’s the same as SelfWealth contract notes.

            Thank you

            • blighst on 01/12/2021 - 23:04
              +1

              @turbice: Yep exactly, it does irk me that unlike Selfwealth, I can't automatically supply sharesight's (or a second email address in general) to Stake.

              • turbice on 02/12/2021 - 07:05

                @blighst: I agree. Let’s hope Stake does this in the near future.

    • dpk on 01/12/2021 - 13:02
      +1

      Mail Forward Contract Note emails (with filters) to sharesight email or manually send the email, Stake doesn't capture sharesight email at the moment.

      • turbice on 01/12/2021 - 15:07

        Thanks. Ill give this a go,

        I have step up SW to auto send the email to sharesight. I was hoping there was similar set up.

  • E5TOQUE on 01/12/2021 - 07:16
    +2

    Sharesight has integration with all 3 of these new fintech HIN supported ASX trading platforms

    • Pearler
    • SelfWealth
    • Stake
  • ModeratelyEnthused on 01/12/2021 - 07:28

    Anyone transferred their portfolio across from Superhero?

    • aneil915 on 01/12/2021 - 10:34

      I'm currently transferring my portfolio across from superhero to stake. Day 7 so far. They said it takes 5-10 business days.

      • ModeratelyEnthused on 01/12/2021 - 13:17

        Has superhero charged you any fees?

        • aneil915 on 01/12/2021 - 14:41

          Its still processing at the moment so no fees yet. I'm guessing I'll get a $5 free once the transfer has been completed.

          • ModeratelyEnthused on 10/12/2021 - 07:03

            @aneil915: How’d this go in the end mate?

            • aneil915 on 10/12/2021 - 09:05

              @ModeratelyEnthused: Still processing. :(

              I did a transfer from commsec pocket and that was completed in 2 days.

              • ModeratelyEnthused on 10/12/2021 - 16:59

                @aneil915: Gee that’s a bit rough. Might have to wait a bit and see if I want to transfer mine over. Appreciate the update mate!

                • aneil915 on 14/12/2021 - 16:03

                  @ModeratelyEnthused: Just received the below from Superhero about the transfer.

                  Hi ######,

                  We have received a transfer out request out of your Superhero account.

                  Before we proceed with this request, please confirm that you acknowledge the following:

                  1. You are in-fact requesting the transfer out.
                  2. You are aware that there is a $5 charge per ETF security associated to ETFs purchased in your Superhero account and held for less than 12 months.
                  3. You are aware that there is a USD$100 charge per US security transferred to another broker (ACATS/DTC) and USD$115 per US security transferred to a share registry (DRS).
                  4. You have a wallet balance equal to, or greater than, the cost of the total transfer out fee. Failure of this will result in a rejected transfer out request. Please ensure that you have appropriate funds in your Superhero wallet before responding to this email.

                  Your feedback is important to us! If you could take a few minutes to help us understand the reason you are moving your shares, this will help us better the platform for our customers.

                  We require a response within 48 hours so that we can process your request in a timely manner.

                  Regards,
                  Alan

                  • ModeratelyEnthused on 14/12/2021 - 21:55
                    +1

                    @aneil915: Thanks mate!

                  • Ozbargainasaurus on 15/12/2021 - 00:30
                    +1

                    @aneil915: Wow. 100usd to transfer US stock. If you ignore tax considerations (not sure if a broker to broker transfer would trigger CGT), but you may be better off selling and buying again on new broker

  • 0Z8 on 01/12/2021 - 08:06

    ASX AZL thank me after

    • congo on 01/12/2021 - 11:26

      I got AVZ :)

    • congo on 01/12/2021 - 14:12

      I lost 20% on AZL

      • 0Z8 on 01/12/2021 - 17:10

        How did you manage to do that! Share has been up all year with another 5% up today alone!

        • congo on 01/12/2021 - 20:48

          I brought it at $0.130 :-(

          Missed the boat and had to swim to catch up !!

  • Frozensage on 01/12/2021 - 08:16

    Anyone who joined SelfWealth for the cheap brokerage, this is a no brainier.

    • vis on 01/12/2021 - 09:20
      +3

      Stake is the new selfwealth

  • Keegz on 01/12/2021 - 09:44

    This or SelfWealth?

    • Froot Loops on 01/12/2021 - 11:42

      At the moment stake looks like it will be the cheapest platform of the 2. This may change after the $0 offers end (i.e. SelfWealth) may match stakes $3 flat fee). Stake is still maturing with their ASX portal, so if you require a service with provides research, buy rating, analysis etc, this is something to consider. Stakes Wall Street area has nice matured, but you need to pay for premium info and the right to reinvest instantly ($90 a year, which is very fair for that they provide).

      With these $0 deals, if you play with a fair amount of cash, then you could signup for both and see which platform you gel with. I believe you can signup for stake and access the buyers area of both the ASX and Wall street (flags up top change the market), without depositing (you do lose the option of a free share if you dont fund shortly after opening). Id say wall street will give you an idea of what the asx portal will look like in a few more months (with post-beta maturing). Let me know what you end up doing. Im interested how people find the comp

  • NamandSpam on 01/12/2021 - 11:19
    -1

    should invest in crypto instead

    • congo on 01/12/2021 - 11:25

      Maybe too late for crypto?
      Boat had sail already?

      • NamandSpam on 01/12/2021 - 12:27

        i dont think so, i reckon have a foot in crypto. Rather have something than nothing. Plus there's just so much development going in the space atm, especially with nft, gaming, metaverse and the usual major tokens. Retail companies are buying land on the metaverse now, companies are starting to get in. Adidas just spent millions on land, this is just one example. If that doesnt say something then i dont know what does. And yes, it is kind of like gambling because it is still relatively new. But if you start doing your research you'd get some understanding and knowledge on what this space could become. basically this should be looked with a macro perspective.

    • Froot Loops on 01/12/2021 - 11:51
      +1

      I quit gambling once I started on the stock market. I think its personal, but i like the comfort of being able to predict companies movements with lots of research. My mate is 100% crypto, as he says its easy cash (he is down alot). I think its like slot machine gambler and fishing, the risk of winning the jackpot or getting a bite, is like a drug. Goodluck with your crypto. If you more into the market and love to gamble, we have a gent named Elon Musk that can wipes billions off his companies value in just 1 joint.

      • congo on 01/12/2021 - 14:15

        Stock market is more rational than cypto, based on companies earnings.
        Crypto I don't understand, it seems more like gambling. What is the crypto vale based of?
        Can a type of coin go bust?
        Some companies get delisted but often you can see that coming.

    • Ghost47 on 01/12/2021 - 13:09
      +1

      The best way to win big with crypto is buy newly minted coins (or whatever the term is). Get in early at like 0.00000000000000000001 c per coin then you can be a millionaire as the coin eats zeroes.

  • f4te on 01/12/2021 - 11:20
    +2

    Their quote on signup fills me with confidence…

    IF YOU BOUGHT $5,000 OF APPLE SHARES ON YOUR 17TH BIRTHDAY THEY'D NOW BE WORTH: $2,446.00

    • Froot Loops on 01/12/2021 - 11:56

      If you are in your 20's now, then they have missed a zero. Not a great look for their platform.

    • Ghost47 on 01/12/2021 - 13:15

      LOL that’s bloody great hahaha.

    • Froot Loops on 01/12/2021 - 15:40
      +1

      Hey so I reported this to stake and it took the team 2hrs to respond and advise they have resolved the issue. -1 for oversight and +1 for customer support.

  • Shwayne on 01/12/2021 - 11:31

    Can anyone confirm whether companies / ASX / broker will send 2 letters by default per share purchased on this platform? :P

  • Jake Pebbles on 01/12/2021 - 12:12
    +2

    Stake Super self manage super fund(SMSF) is another stake product. Any thought of that. As at the moment they have annual fee for $770.

    THE BENEFITS:
    Invest in 6,000+ U.S. stocks & ETFs on Stake
    Invest in 2,000+ ASX stocks & ETFs on Stake
    Invest in Bitcoin ETFs on Stake
    Invest in cryptocurrency, property, art and collectables off Stake.

    $0 brokerage on U.S. trades
    $0 brokerage on AUS trades until 31st December 2021
    $0 self-managed super fund set up fee
    $0 super transfer fee
    1-year free of Stake’s premium U.S. account type, Stake Black (USD$90 in value)

    Thinking of switching over as i am already using the service for trading us shares already.

    • congo on 01/12/2021 - 14:17

      Which Bitcoin ETFs on Stake do you recommend?

      • rektrading on 01/12/2021 - 15:45

        Bitcoin ETF is for noobs.

        Buy and hodl directly.

    • Froot Loops on 01/12/2021 - 16:00

      I saw this earlier. Is an interesting product and if I didn't clean out my super accounts, I may have considered

  • yoba on 01/12/2021 - 13:30

    looks it is finally time to move funds from Interactive Brokers… if only funds were not stuck in long CBA =/

  • Fooyoo on 01/12/2021 - 15:36

    Can anyone share their experience with transferring portfolio from Commsec into Stakes? Any fees charged by Commsec? How long it took?

  • fullmetal on 01/12/2021 - 15:39

    Anyone transferred their portfolio across from Selfwealth?

  • activ8newbs on 01/12/2021 - 21:42

    Whats the best way to fund my Wall st account on stake? I just signed up and want to transfer $5k AUD in…I don't want to mess it up….I want to ensure I get the best rate/lowest fees I can. Any pointers?

  • blueskittles on 02/12/2021 - 09:39
    -8

    AVOID AVOID AVOID.
    Go with SelfWealth or Commsec. Stake is SHADY, the transactions are NOT CHESS sponsored and you will experience hell trying to withdraw or move your shares to another platform. Look up how you do this before you commit, please.

    • f4te on 02/12/2021 - 12:02
      +2

      Source?

    • Froot Loops on 02/12/2021 - 16:01
      +2

      lol. I am glad that I didn't spend all my down votes today. I have provided a lot of resources and factual information in this post and would love to know where you are getting your "facts" from. Sounds like you're speaking from emotion and a pure lack of research. Please enlighten us!

      I'm sure many can backup that they can also see their HIN's or have been issued a HIN already on the stake AUS Portal

      • blueskittles on 03/12/2021 - 10:55
        -5

        Downvote however you want, the advice was coming from a place of care and wishing to caution others, weird how you're getting defensive about big corp lol.

        I tried to move my shares across to SW from Stake and went down a rabbit hole where I learned about the fact that through Stake you don't own the US shares you purchase. I'm not willing to tie myself to them any further than I already have. Quick google on any subs (r/asx_trades and r/AusFinance) will tell you plenty of Stake stories. I just hope you and anyone else downvoting don't regret this later. Good luck and invest responsibly!

        • dpk on 03/12/2021 - 11:38
          +3

          For US shares, there is no CHESS system so nobody owns the shares even with Selfwealth. For all US shares its custodian only.

  • bobwokeup on 02/12/2021 - 09:49

    Can someone please explain the “Minimal starting stake is A$500 (as the stake is Chess-Sponsored / HIN)“ to a newb I don’t understand?

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